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Income Tax : The article argues that recurring demands for ITR deadline extensions arise from delayed AIS updates, late utility releases, and t...
Income Tax : Senior citizens aged 75+ with only pension and bank interest income need not file ITR if a specified bank computes income and dedu...
Income Tax : Section 44AA mandates maintenance of books by specified professionals and eligible businesses based on income or turnover limits. ...
Income Tax : Employer-provided interest-free or concessional loans are taxable as salary perquisites due to the financial benefit enjoyed by em...
Income Tax : ESOPs are taxed as salary perquisites on allotment based on FMV at exercise. Eligible start-up employees can defer TDS and tax pay...
Income Tax : The CBI apprehended an Income Tax Office Superintendent in Odisha after he was allegedly caught accepting a bribe for deleting a d...
Income Tax : The Income Tax Appellate Tribunal has proposed a priority disposal mechanism for appeals filed up to and including 2022 in respons...
Income Tax : A representation has urged CBDT to merge TDS return codes 1023 and 1024, arguing that both apply to the same contract payments wit...
Income Tax : Association requested CBDT to rationalize CASS 2026 case selection considering the administrative burden caused by implementation ...
Income Tax : KSCAA requested the CBDT to release e-filing utilities and schemas for AY 2026-27 without delay, stating that pending utilities ar...
Income Tax : The Mumbai ITAT held that an addition under section 69 cannot survive when the Revenue fails to establish that the alleged investm...
Income Tax : ITAT Lucknow held that disallowance of interest expenses cannot be sustained without evidence showing that interest-bearing funds ...
Income Tax : SC dismissed Revenue’s plea after Gujarat HC held that even proposed additions would not alter MAT liability, defeating escapeme...
Income Tax : The Tribunal held that the assessee was entitled to additional interest under Section 244A(1A) because the Assessing Officer faile...
Income Tax : The Tribunal held that once Second Line Support services were examined and covered under an Advance Pricing Agreement, disallowanc...
Income Tax : The CBDT has identified specific categories of taxpayers whose returns will be compulsorily selected for complete scrutiny during ...
Income Tax : The Ordinance exempts interest income and capital gains arising from Government securities for Foreign Institutional Investors and...
Income Tax : The Central Government has specified infrastructure sub-sectors from the Updated Harmonised Master List as eligible businesses und...
Income Tax : CBDT has granted scientific research approval under the Income-tax Act, 2025, enabling eligible donations to qualify for tax benef...
Income Tax : CBDT has granted scientific research approval under the Income-tax Act, 2025, allowing eligible donations to qualify for tax benef...
Issuance of a valid notice under section 143(2) was mandatory and non-issuance or belated issuance vitiated the assessment. Accordingly, Tribunal quashed the reassessment order passed under section 147 r.w.s. 144B as being void ab initio.
Reassessment order passed under Section 147/143(3) was quashed on the ground that no notice under Section 143(2) was issued after the assessee filed the return in response to notice under Section 148, rendering the assessment void ab initio.
The Income Tax Appellate Tribunal (ITAT), Mumbai, has allowed Shree Sai Constructions’ appeal, setting aside a Rs.6.04 Cr capital gains addition.
The ITAT Mumbai, in Mohan Thakurdas Gurnani Vs ITO, deleted penalties levied under Section 271(1)(c) of the Income-tax Act, 1961, for notional income from house property, holding that penalty requires actual concealment, not notional additions.
New Income Tax Act, effective April 2026, simplifies law by reducing sections and introducing Tax Year. It features higher tax rebates, eliminates notional rent tax on two houses, and clarifies VDA taxation at a flat 30%.
Tribunal ruled that AO cannot treat cash recorded in audited books as unexplained merely because deposits were made during demonetisation or in instalments. Additions u/s 69A were deleted as cash balance was duly supported by business records.
The ITAT Jabalpur directed the CIT (Exemption) to reconsider the rejection of Mangalayatan University’s Section 80G approval. The Tribunal held that a rejection based on incomplete facts.
ITAT Jabalpur upholds CIT(A)’s deletion of addition u/s 68; holds that mere reliance on Investigation Wing report without independent verification is unsustainable.
ITAT Pune upheld CPC disallowance under section 36(1)(va) for delayed employee PF/ESI deposits, following Supreme Court ruling in Checkmate Services.
ITAT Pune set aside rejection of 12A registration after finding non-compliance was due to staff error; matter remanded to CIT(E) for fresh consideration.
